The acronym HIPAA stands for the Health Insurance Portability and Accountability Act of 1996. In this post, we will explain why this piece of legislation is something to take into consideration when you are planning your estate. Advance Directives for Health Care Everyone is well aware of the fact that you have to facilitate postmortem asset transfers when you put your estate plan in place. A lot of people think this is the long and short of it, but a proper estate plan will also address … [Read more...] about What Is a HIPAA Release?
Estate planning and asset protection go together hand in hand. If you don’t have a solid asset protection strategy in place, there’s a chance some or all of your assets could be at risk in the future – and that’s not a risk you want to take. While there are many risks you can hedge against with the proper asset protection strategy, here are some of the most common: Disability or incapacity: For example, if you suffer a serious injury, it could impact your finances in a variety of ways. … [Read more...] about Yes, Asset Protection is Important
Currently, each person can give $11.58 million during life or at death. However, that amount will be cut in half by January 1, 2026. It may go down even sooner. Read on to learn why and how you should use it before you lose it. … [Read more...] about Use the Exclusion or Lose It
Some people are comfortable sharing their entire estate plan with their children. Others would rather keep this private, as they have concerns about these discussions causing more harm than good. When your children are young, you probably won’t think twice about this. They don’t know anything about estate planning and you don’t want to scare them. However, as you and your children age, you may have questions about whether it’s a good idea to discuss your estate plan with them. Here are a … [Read more...] about Should You Tell Your Children About Your Estate Plan?
Powers of Attorney are part of even the simplest estate plan. A Power of Attorney allows your Agent to act for you. There are Powers of Attorney for financial matters and also those for health care. Read on to learn more … [Read more...] about The Basics: Financial Power of Attorney
Powers of Attorney are part of even the simplest estate plan. A Power of Attorney allows your Agent to act for you. There are Powers of Attorney for financial matters and also those for health care. This article concerns the Healthcare Powers of Attorney and Advance Directives. Read on to learn more … [Read more...] about The Basics: Powers of Attorney for Healthcare
The President’s bout with COVID-19 demonstrates the importance of keeping planning current. A Health Care Power of Attorney appoints someone to make decisions for you if you’re not able to do so for yourself. An Advance Directive expresses your wishes regarding end-of-life decisions. Read on to learn more. … [Read more...] about Staying Current is Especially Important in the Pandemic
You’ll make many important purchases in your life, with life insurance somewhere near the top of the list. When it comes to your finances and protecting your loved ones, this is just one of the many things you should consider buying. Of course, there’s a big difference between saying you’re going to buy life insurance and actually doing so. Many people shy away because they don’t know what they want, what they need, or how to purchase a policy that suits all their requirements. By … [Read more...] about Important Life Insurance Questions to Answer
For many people, the first thing that comes to mind when discussing estate planning is the creation of a will. While it’s not likely to be the only part of your estate plan, there’s a good chance that it’s a big part of what you do. When creating a will, there’s a mistake you need to avoid: assuming that the only thing you can do is specify who will receive your assets upon your death. Yes, this is one of the primary goals of creating a will, but it’s far from the only detail to … [Read more...] about Remember to Include These Things in Your Will
You owe federal income tax wherever you live. But your overall tax burden can vary dramatically depending on where you live. Read on to learn more. Best Places to Retire: State Taxation … [Read more...] about Best Places to Retire: State Taxation